Expense Ratio of ETFs ?

QID has a Expense Ratio of 0,95%. So if you buy 100 QID @ $50 and sell it later on that day at the same price, you only have to pay the expense ratio fee for that day, that's 1/365 x 0,95% x order volume and of course the commission of your broker ?

You don't have to pay the total Expense Ratio of 0,95% x order volume for every trade. Correct ?